NRAM Class Action on redress method.

manvdebt

The problem we have is the ongoing action against NRAM from various angles. We dont want to make things too public as it strengthens our position.

I am currently looking at a way of collaborating as the contact I have made so far from has resulted in zero support from the community.

Going to have a wee update over the next few days...

manvdebt

From the financial ombudsman website:

"the debt must be due and payable. For example, if a customer misses making a loan payment, then (at least until it calls in the loan) the firm can take only the missed payment – not the balance of the loan."

Clearly as my account with NRAM is up to date and I have never missed a payment, the FOS lacked some backbone in upholding my complaint.

The FOS guidlines clearly state your account should be in arrears.

I am currently looking at all possible avenues to receiving my money and hope you all dont give up hope!

Flewbag

Hi
I have struggled to get up to date on my mortgage for a couple of years now after a relationship breakdown and redundancy at work left me in arrears by several thousand pounds and I nearly lost the property. I was pleased when i found out the amount of redress for my account equalled pretty much the exact amount of arrears left to clear on the account. However as the redress was paid to my unsecured account I am now left in the utterly frustrating position of being in front on my unsecured loan by the same amount im behind on my secured loan. I had my first child this year so income has dropped again substantially. I do not even want them to give me the cash, just reallocate the redress to the part of my account in arrears! Wouldn't it be plain logic?

shaney1981

Flewbag wrote: »

Hi
I have struggled to get up to date on my mortgage for a couple of years now after a relationship breakdown and redundancy at work left me in arrears by several thousand pounds and I nearly lost the property. I was pleased when i found out the amount of redress for my account equalled pretty much the exact amount of arrears left to clear on the account. However as the redress was paid to my unsecured account I am now left in the utterly frustrating position of being in front on my unsecured loan by the same amount im behind on my secured loan. I had my first child this year so income has dropped again substantially. I do not even want them to give me the cash, just reallocate the redress to the part of my account in arrears! Wouldn't it be plain logic?

I am/was in the same situation and currently have an active complaint against NRAM that for the second time they have told me they are unable to resolve. I also have had a massive change in my personal circumstances and took a visit from a field agent on behalf of NRAM who provided them with a report weeks ago yet all I have had from them is a default notice on my unsecured account (which they know I cannot afford to pay.) If they would have credited my account with the redress and cleared my arrears I would have been delighted but they apparently were not willing to do that, despite the fact that before the new statements were issued, both products were under the umbrella of the same account number..... I asked in feb for them to put my entire account in dispute, they haven't so I am accruing charges and interest at an increased rate. They even didn't respond to my initial offer of payment back in Feb at all let alone within the required timescales as set out in legislation. It's crazy, I just don't understand how they get away with it. I would hope that if they do eventually get to the point where they take me to court the judge will take a sympathetic view. Clearly they just want to steamroller anyone they feel they can to clear the mortgage book. It's disgusting.

manvdebt

shaney;

Going by the FOS guidelines, they should have credited this to the amount owed and not just the balance.

In the initial letter from NRAM regarding this issue they were portraying their intent to act in the best interests of the NRAM Customers.

Doesn't look that way. Have you been to the FOS?

Don't hold your breath though, they are not interested but complain any way.

Every NRAM Customer that was ill-treated should have had their case heard individually - that is only fair.

Whether practical or not, NRAM made the ERROR, NOT US.

I am currently putting together a course of action to get NRAM to listen. Things are moving, slowly though, so please have patience.

shaney1981

I am going to the fos once I have their next letter saying they have reviewed it and they have followed the appropriate course etc.... I just love the way they send out standard responses hoping people go away.... here's hoping something will come of all of this.... I'm kind of hoping too that seeing as I asked them to put my account in dispute as far back as feb I might have a case to have the charges etc removed too....

cot1198

manvdebt wrote: »

shaney;

Going by the FOS guidelines, they should have credited this to the amount owed and not just the balance.

In the initial letter from NRAM regarding this issue they were portraying their intent to act in the best interests of the NRAM Customers.

Doesn't look that way. Have you been to the FOS?

Don't hold your breath though, they are not interested but complain any way.

Every NRAM Customer that was ill-treated should have had their case heard individually - that is only fair.

Whether practical or not, NRAM made the ERROR, NOT US.

I am currently putting together a course of action to get NRAM to listen. Things are moving, slowly though, so please have patience.

thanks manvdebt

I am still waiting for the outcome from the senior ombudsman, although I have a fair idea how it will go. In the letter from my adjudicator it says that NRAM have not acted illegally and that the breach of the CCA is mealy a technicality.

I am with you all the way on this I want to make NRAM listen.

Wilsof2

I have just had a reply from adjudicator today and wish I had read this forum beforehand! I am astonished they will not agree that "treating customers fairly" is listening to their request and subject to their being no contractual, legal or other reason not to, why would it be unreasonable to meet that customers request?

Their focus was on that they dont feel redressing the account is treating a customer unfairly, almost missing the point that not giving a customer a choice or indeed any explanation as to why the payment cannot be made to a customer has to be considered as treating someone unfairly?

We all agree they noticed the mistake, pointed it out to us and have agreed to refund it and you have to give them credit for that. However forcing a certain method of compensation unaccepted by the customer surely is unfair?

My response focused very much on the fact that I had not been financiall disadvantages as a result of their action. No-one was saying I had been but equally if they agreed to what is a reasonable customer request, it would mean that they were not financially disadvataged either. They are paying you the money anyway, however you look at it whether they deduct it off the loan amount or redce the loan term or pay you a cheque, it all adds up to the same. Surely a customer has a say??

My concern is also over the fact they have reduced my loan agreement term, well I do not consent to this so where is the agreement? does this make my original agreement nul and void as they have changed the term without any input or agreement from me? The terms are now not what we both originally signed to agree to. I was advised by the Adjudicator that if someone was struggling financially for example and needed to change the monthly payments, a new agreement would not be written up, it is accepted that this may be agreed over the telephone? Not sure how the example is anything like my case because I am not asking them to change anything on my loan and I do not agree to it,

When I get my letter I will escalate to Ombudsman however reading these posts I dont expect a different outcome which leaves me with possibly issuing legal proceedings. I imagine that the reason this decision has been reached and supported by you know who is that if they agree to this for one customer it sets a president for the other iro 150000 customers and perhaps iro £2k per customer it effected = if my calculations are right iro 300 million which I imagine they could not afford to dole out.

Does anyone know if a company who breaches your credit agreement then to rectify their error - changes the loan term without your authorisation or agreement? are they again in breach of contract or do they have the right to do this?

thanks
wilsof2

shaney1981

on top of all the other issues I have had with these clowns they have left me a voicemail message on my mobile asking to speak to somebody of a different name..... Seriously, something needs to be done, what a bunch of idiots.... still nothing re my complaint, over 5 months now.....

shaney1981

been offered £75 as a 'goodwill' gesture, due to their mishandling of my complaint...... !!!!!! what the hell, fos it is then. Fricking monkeys.